Garden State Investment Advisory Services LLC Buys Shares of 56,377 Nio Inc – (NYSE:NIO)

Garden State Investment Advisory Services LLC bought a new stake in shares of Nio Inc – (NYSE:NIO) during the 3rd quarter, HoldingsChannel reports. The firm bought 56,377 shares of the company’s stock, valued at approximately $377,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Ridgewood Investments LLC purchased a new position in NIO during the 2nd quarter valued at about $25,000. Allspring Global Investments Holdings LLC purchased a new position in NIO during the 3rd quarter valued at about $32,000. Baader Bank Aktiengesellschaft purchased a new position in NIO during the 2nd quarter valued at about $53,000. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of NIO by 22.0% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock valued at $61,000 after buying an additional 2,651 shares in the last quarter. Finally, Caprock Group LLC bought a new stake in shares of NIO in the 2nd quarter valued at approximately $63,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Macquarie cut NIO from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. Bank of America boosted their price target on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $5.30 to $8.00 in a research note on Friday, September 6th. Wolfe Research assumed coverage on NIO in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Finally, The Goldman Sachs Group cut NIO from a “neutral” rating to a “sell” rating and lowered their price target for the company from $4.80 to $3.90 in a research note on Monday, November 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $5.71.

NIO Stock Performance

Shares of NIO stock opened at $4.40 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The stock has a 50 day moving average price of $5.39 and a two-hundred day moving average price of $4.86. Nio Inc – has a 12-month low of $3.61 and a 12-month high of $9.57.

NIO (NYSE:NIO) last issued its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, hitting analysts’ consensus estimates of ($2.21). NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The company had revenue of $17.45 billion during the quarter, compared to analyst estimates of $17.49 billion. During the same period in the previous year, the company earned ($0.51) earnings per share. The company’s quarterly revenue was up 98.9% compared to the same quarter last year. As a group, equities analysts predict that Nio Inc – will post -1.39 EPS for the current year.

About NIO

NIO Inc designs, manufactures, and sells electric vehicles in the People's Republic of China. The company is also involved in the manufacture of e-powertrain, battery packs, and components; and racing management, technology development, and sales and after-sales management activities. In addition, it offers power solutions for battery charging needs; and other value-added services.